Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) Director Sells 2,500 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

InterDigital Price Performance

Shares of IDCC traded up $0.42 during mid-day trading on Monday, reaching $138.97. The company had a trading volume of 356,346 shares, compared to its average volume of 467,788. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $141.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The company’s 50-day moving average is $132.20 and its 200-day moving average is $116.58. The company has a market capitalization of $3.51 billion, a P/E ratio of 20.45, a P/E/G ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. The firm had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. On average, equities analysts anticipate that InterDigital, Inc. will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.30%. InterDigital’s payout ratio is currently 26.47%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IDCC shares. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. Roth Mkm upped their price target on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Institutional Trading of InterDigital

Several hedge funds and other institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of InterDigital in the second quarter valued at about $29,000. Riverview Trust Co acquired a new position in InterDigital during the first quarter worth approximately $31,000. GAMMA Investing LLC increased its position in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 124 shares during the last quarter. Nisa Investment Advisors LLC increased its position in InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in InterDigital during the first quarter worth approximately $64,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.